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Centene Shares Popped: What You Need to Know

Is this meaningful? Or just another movement?

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of health-care company Centene Corporation(NYSE: CNC) jumped as much as 10% today after it released earnings.

So what: Revenue of $1.22 billion was just slightly below expectations, but earnings and outlook got investors really excited. First-quarter earnings per share were $0.46, beating estimates by four cents, and the company expects 2011 earnings to be between $2.03 and $2.13, a three-cent increase from the previous range.

Now what: Quarterly earnings were helped by a lower health benefits ratio and increased membership. The strong earnings report helped push Centene to a new 52-week high in trading today. I think the clarity of this quarter will help push shares higher as details of the health-care shakeout become clearer to investors.